AEW Europe has exited the Romanian market with the sale of its office and retail assets to two different buyers, news sources report. Financial terms were not disclosed.
Included in the sale is the America House office building in Bucharest, which the firm purchased in 2007 for €120 million ($131 million), as well as the Promenada Mall shopping center in Targu Mures, which AEW paid €90 million ($98 million) for in 2008.
The buyers were Morgan Stanley together with Israeli investors, and Hungarian investor Indotek Group, respectively.
